EM Set to Benefit from Weaker Dollar, Says Dryden
European shares rose for the first time in a week and the dollar fell versus all of its major peers after minutes of the Federal Reserve’s last meeting damped prospects for a U.S. interest-rate hike. Energy stocks led gains on the Stoxx Europe 600 Index as oil rose to about $47 a barrel, while an MSCI gauge of emerging-market equities advanced to a one-year high. Japanese shares fell as the yen strengthened beyond 100 versus the greenback. The Bloomberg Dollar Spot Index sank to a three-month low after the Fed record showed officials saw little risk of a sharp uptick in inflation, helping push odds of a rate increase this year back below 50 percent. JPMorgan Strategist Alexander Dryden discusses with "On the Move" host Guy Johnson.